Dr Polina Khrennikova

Lecturer in Finance Polina Khrennikova

Contact details

  • Tel: +44 (0)116 252 5622
  • Office: Room 2.11, Heron House, Brookfield
  • Office hours: TBC

Personal details

I joined the School of Business as a Lecturer in Finance in 2016. I have previously taught at the University of Leicester as a Graduate Teaching Assistant and subsequently as a Teaching Fellow.

I  hold both a BA and MSc in International Business Studies and Economics from the Department of Economics, Linnaeus University in Sweden and a PhD in Finance from the School of Business, University of Leicester.

Conferences and seminars

I presented my research at multiple international conferences and workshops in my research areas. I also serve as a reviewer for a range of high impact journals.

Membership of professional bodies

  • EC (Econophysics Network)
  • M2D (Models to Decisions Network)
  • SEF (Society for Experimental Finance)


Administrative responsibilities

  • Curriculum Committee member (Accounting)
  • Athena SWAN team member


My research is embracing human decision making and information processing under uncertainty and risk. 
The areas of my research are behavioural finance and economics, as well as public choice theory. I seek to explore how individuals process information and deal with uncertainty and risk, and use multidisciplinary methods to devise novel mathematical models of these processes.

Some of my research projects are: decision-making and risk preferences in investment related choices, agents’ expectations and asset price formation, models of voters’ behaviour and political cooperation.


I am interested in supervising students with research projects in:

  • Decision making and information processing under uncertainty and risk.
  • Behavioural finance and asset pricing.

Current PhD students: Pascal Vander Straeten


Khrennikova, P., Patra, S. (2019)  Asset Trading under non-classical ambiguity and heterogeneous beliefs. Physica A: Statistical Mechanics and its Applications, 521, 562-577, IF 2.12.

Basieva, I., Khrennikova, P., Pothos, E., Asano, M., Khrennikov, A. (2018) Quantum-like model of subjective expected utility. Journal of Mathematical Economics, 78, 150-162. IF 0.434.

Haven, E., Khrennikova, P. (2018) A quantum-probabilistic paradigm: non-consequential reasoning and state dependence in investment choice. Journal of Mathematical Economics, 78, 186-197. IF 0.434.

Khrennikova, P., Haven, E. (2017) Quantum generalized observables framework for psychological data: a case of preference reversals in US elections.  Philosophical Transactions of the Royal Society A, 375, 20160391. IF2.864.

Khrennikova, P. (2017) Modeling behavior of decision makers with the aid of algebra of qubit creation–annihilation operators.  Journal of Mathematical Psychology, 78, 76-85.  IF2.609.

Khrennikova, P. (2016) Quantum like modeling of competition and cooperation between political parties: The coalition and non-coalition equilibrium model. Journal of Mathematical Psychology, 71, 39-50. IF 2.609.

Khrennikova, P. (2016) Application of quantum master equation for long term prognosis of asset prices. Physica A: Statistical Mechanics and its Applications, 450, 253-263. IF 2.12.

Khrennikova, P., and Haven, E. (2016) Instability of political preferences and the role of mass media: a dynamical representation in a quantum framework. Philosophical Transactions of the Royal Society A, 374, 20150106. IF 2.864.

Full Listing of Publications

Journal articles

Khrennikova P., Haven E., and Khrennikov A. (2014) An Application of the Theory of Open Quantum Systems to Model the Dynamics of Party Governance in the US Political System. International Journal of Theoretical Physics, 53(4), 1346-1360. IF 1.188.

Khrennikova, P. (2014) Order Effect in a study on US voters’ preferences: Quantum representation of Observables. Physica Scripta, 014010. IF 1.296.

Book chapters

Khrennikova P., and Haven E. (2017) Voters’ Preferences in a Quantum Framework. The Palgrave Handbook of Quantum Models in Social Science. (Haven E., Khrennikov A. eds.), Palgrave MacMillan Handbook Series. Forthcoming.

Conference proceedings

Khrennikova, P. (2019) Quantum-like model of subjective expected utility: a survey of applications to finance.  Studies in Computer Intelligence, Springer.  (Kreinovich et al. eds.), (forthcoming).

Khrennikova P. (2015) Quantum like Modelling of the Non- separability of Voters Preferences in the U.S. Political System. Quantum Interaction, Lecture Notes in Computer Science (Atmanspacher H., et. al. eds.), 8951, 196-209

Khrennikova P. (2014) A Quantum Framework for ’Sour Grapes’ in Cognitive Dissonance. Quantum Interaction, Lecture Notes in Computer Science, (Atmanspacher H., et al., eds.), 8369, 270-280.

Khrennikova, P. (2012) Evolution of Quantum-like Modeling in Decision Making Processes. American Institute of Physics, Conference Proceedings, 1508, 108.

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Contact Details

School of Business
University of Leicester
University Road



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